Gold surpasses $3,000 per ounce for the first time in history
The trade war has boosted the value of this commodity, seen as "safe havens" in "fragile" economic environments, analysts say.
Gold bullion
The price of an ounce of gold surpassed $3,000 for the first time in history. The increase is motivated by the trade war, since the tariffs interposed between different countries benefited the value of one of the most precious metals.
According to a report from the website Gold Price, the value of an ounce of gold reached $3,004.20 this Friday, up 0.4% from its last count.
Some analysts such as Stephen Innes of SPI AM detailed that the upward trend in the value of gold is directly linked to tariffs imposed by countries.
"The equation with respect to gold remains simple. The higher the tariffs, the greater the uncertainty and the stronger the demand. Concerns about global growth reinforce gold's role as a refuge in an increasingly fragile economic environment," Innes said, in remarks picked up by AFP.
So far this year, the price of an ounce of gold reached an all-time high on 13 occasions.
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